“America First” and Financial Stability

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  The High Cost of the Strong Peso and Its Temporary Nature: The Case of Mexico

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  The article analyzes why exchange rate stability has been prioritized in Mexico and why the national currency has appreciated; which policies and factors have made this possible, the costs and consequences of the strong peso, and its sustainability and temporality are also examined. Mexico’s economy does not have the endogenous conditions necessary to maintain such […]

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• Working Paper No. 1071 December 10, 2024

  Tilting at Windmills

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  Originally issued as EDI Working Paper No. 14, May 2023 The Central Bank of the United States, the Federal Reserve, has a dual mandate to maintain both full employment and price stability. However, inflation-fighting had always eclipsed the full employment objective without much accountability. Today, the Federal Reserve provides regular testimony before Congress on how […]

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• Working Paper No. 1066 December 06, 2024

  Job Guarantee Program and the Kaleckian Dilemma

  Caio Vilella, and Eduardo F. Bastian
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  Originally issued as EDI Working Paper No. 10, November 2023 Minsky (1965) has presented the Job Guarantee program as a recommendation in the war against unemployment and poverty. Kalecki (1943), on the other hand, argued that the full employment situation could be technically feasible but politically hard to implement due to the class struggle, resulting […]

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